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CMC Markets vs Pepperstone 2026
A detailed head-to-head comparison of CMC Markets and Pepperstone across regulation, trading costs, platforms, and more.
Score Breakdown
Category-by-Category Winner
Detailed Comparison
Overview
Trading Costs
Platforms & Features
Instruments
CMC Markets vs Pepperstone: Our Analysis
Overall Verdict
With an overall score of 88.6/100 vs 83.5/100, Pepperstone edges out CMC Markets by 5.1 points. This moderate gap suggests Pepperstone has an edge in several key areas.
Trading Costs
On the EUR/USD pair, CMC Markets offers an average spread of 0.70 pips with a $5.00 round-turn commission, while Pepperstone comes in at 0.10 pips with a $7.00 commission. Pepperstone offers tighter pricing on EUR/USD. Minimum deposit is $0 at CMC Markets and $0 at Pepperstone.
Regulation & Safety
CMC Markets holds 5 regulatory licenses with a highest tier of Tier 1 (FCA, ASIC, BaFin), while Pepperstone has 6 licenses at Tier 1 (FCA, ASIC, DFSA). Pepperstone has more regulatory licenses overall.
Platform Comparison
CMC Markets offers MT4, Next Generation — uniquely offering Next Generation which Pepperstone does not have. Pepperstone supports MT4, MT5, cTrader, TradingView, with exclusive access to MT5, cTrader, TradingView. Pepperstone provides a wider platform selection.
Who Should Choose Which?
CMC Markets suits beginners seeking education, traders who prioritize safety, traders wanting a wide instrument range, while Pepperstone is better for cost-conscious traders, traders who want advanced tools. If copy trading matters, Pepperstone has the edge. Both brokers offer demo accounts, so you can test each before committing real funds.
Frequently Asked Questions
Based on our testing, Pepperstone scores higher overall at 88.6/100 compared to CMC Markets's 83.5/100. However, "better" depends on your priorities — CMC Markets may be superior in specific categories like regulation.
Pepperstone offers tighter spreads with an average EUR/USD spread of 0.10 pips, compared to 0.70 pips at CMC Markets. Check our detailed comparison table above for GBP/USD and USD/JPY spreads as well.
CMC Markets scores higher for regulation and trust at 92/100, holding licenses from FCA, ASIC, BaFin. Pepperstone scores 90/100 with FCA, ASIC, DFSA.
For beginners, CMC Markets is the stronger choice with an education and research score of 80/100. It offers structured trading courses, webinars, and a free demo account. Pepperstone scores 75/100 for education.
Yes, there is no restriction on having accounts with both CMC Markets and Pepperstone simultaneously. Many experienced traders maintain accounts with multiple brokers to take advantage of each broker's strengths — for example, using one for its lower spreads on majors and another for its wider instrument range or better platform features.
Reviewed by
Neil CNeil C is a financial markets analyst and forex trading specialist with over 10 years of experience evaluating broker platforms, trading conditions, and regulatory frameworks. He has personally tested accounts with dozens of brokers and brings a data-driven methodology to every review.
Last updated: April 2026